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INPEX and Larrakia people sign historic agreement

INPEX and Larrakia people sign historic agreement

Darwin, Australia: INPEX on behalf of Ichthys Joint Venture participants, is proud to announce the signing of a landmark $24 million benefits agreement with the Larrakia people in Darwin.

The 40-year agreement is considered the most significant long term package of benefits and opportunities provided outside of Native Title obligations.

The signing of the agreement marks the culmination of more than a decade of relationship building and collaboration between INPEX and the Larrakia people.

The INPEX Larrakia Advisory Committee, which includes representation from the Larrakia Development Corporation and Larrakia Nation Aboriginal Corporation, will oversee the distribution of benefits to Larrakia people. Initially, the focus is expected to be on education initiatives and on the support of the elderly members of the community.

INPEX Larrakia Advisory Committee Chairman Bill Risk said INPEX was the first company in the Northern Territory to engage Larrakia to undertake heritage surveys to ensure the protection of their cultural heritage for future generations.

“This is an agreement built on a foundation of trust and respect between INPEX and Larrakia,” Mr Risk said.

“We are both salt water people, we respect our Elders and we celebrate rich cultures in our daily lives,” Mr Ito said.

“Ichthys LNG has benefitted enormously from the support of the Larrakia people over many years. INPEX looks forward to building on our strong relationship with the Larrakia people for decades to come.”

INPEX on behalf of the Ichthys Joint Venture already provides:

a scholarship program for Larrakia tertiary students to undertake studies at any university in Australia;

a funding program for primary and secondary Larrakia school students; and an air conditioning program for Elders and people with disabilities.

Media Contact:

Ms Susie Pantall, Communications Manager, INPEX Australia

Office: +61 (0) 862136634

Mobile: +61 (0) 403330020

Email: susie.pantall@iNPEX.com.au

About INPEX

INPEX CORPORATION is Japan’s largest exploration and production (E&P) company, and a mid-tier E&P player just behind the world’s oil majors. INPEX is currently involved in approximately 70 projects across more than 20 countries, including the Ichthys LNG Project in Australia as Operator. Through sustainably growing its oil and gas development business, INPEX aims to become a top class international oil and gas E&P Company and continue providing a stable and efficient supply of energy to its customers. For more information, visit https://www.iNPEX.co.jp/english/index.html.

About the Ichthys LNG Project

The Ichthys LNG Project is a project led by INPEX (Operator, participating interest: 62.245%) alongside major partner TOTAL (participating interest: 30%) and the Australian subsidiaries of CPC Corporation, Taiwan (participating interest: 2.625%),

Tokyo Gas (participating interest: 1.575%), Osaka Gas (participating interest: 1.2%), Kansai Electric Power (participating interest: 1.2%), JERA (participating interest: 0.735%) and Toho Gas (participating interest: 0.42%) that involves liquefying natural gas lifted from the Ichthys Gas-condensate Field offshore Western Australia at an onshore gas liquefaction plant constructed in Darwin, Northern Territory, and producing and shipping approximately 8.9 million tons of liquefied natural gas (LNG) and approximately 1.65 million tons of liquefied petroleum gas (LPG) per year, along with approximately 100,000 barrels of condensate per day at peak. The Ichthys LNG Project is a large-scale LNG project by global standards, and is expected to be operational over a period of 40 years. In 1998, INPEX acquired an exploration permit in the block where the project is located, and following development studies including exploration, evaluation and FEED work, the company announced its final investment decision (FID) in January 2012.